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German household consumption down by 3% in 2020 due to Covid
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IANS | 24 Nov, 2021
German households lowered their monthly consumption expenditure in 2020
by three per cent as the Covid-19 pandemic "markedly affected" private
spending, the Federal Statistical Office (Destatis) has said.
Average
monthly household spending in Germany declined to just above 2,500
euros ($2,810), Xinhua news agency reported, citing Destatis.
Spending
on catering and accommodation services declined the most, down by 35
per cent compared to the previous year. The second highest decline was
recorded in education where Germans spent 29 per cent less.
Due
to Covid-19 lockdowns, German consumers put a "focus on home, more
interior furnishings, household appliances and home textiles," Destatis
noted.
Home products showed the highest growth as households
spent an average of 160 euros per month on such items last year, around
13 per cent more than 2019, the year before the pandemic, according to
Destatis.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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